May, 2022

• 12 May

  Abu Dhabi airport sees 218% jump in passengers in Q1 ’22

  

    Abu Dhabi / WAM Abu Dhabi Airports on Wednesday released its passenger traffic results for the first quarter of 2022. It revealed that the airport welcomed 2.56 million guests, more than triple the number seen during the same period last year, on the back of resurgent demand and the resulting introduction of new frequencies, routes and services. First quarter ...

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• 12 May

  Yahsat announces AED362.5m revenue growth in Q1 2022

  

    ABU DHABI / WAM Al Yah Satellite Communications Company on Wednesday announced its financial results for the three-month period ended March 31. Yahsat reported first-quarter revenue of AED362.5 million [$98.7 million], reflecting an increase of 9.4% year-on-year. All business segments performed well, with a particularly exceptional performance in both managed solutions and mobility solutions, which increased by 26.0 percent ...

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• 12 May

  250,000 visitors flock to Dubai parks during Eid

    DUBAI / WAM Dubai parks witnessed a huge turnout from families during the Eid Al Fitr holidays. The parks received more than a quarter of a million visitors, which is an increase of 76.38% over the same period last year. Al Mamzar Park received the largest share of visits. The parks had opened their doors to receive families and ...

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• 12 May

  Emirates, DCT Abu Dhabi to promote tourism to UAE

  

    DUBAI / WAM Emirates and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), on Wednesday signed a memorandum of understanding (MoU) to boost tourist numbers across the airline’s global network. The new partnership is part of the airline’s commitment to promote tourism to the UAE by aligning activities with other tourism partners and capitalising on ...

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• 12 May

  Waha Capital net profit rises 32% to AED147million in Q1 of 2022

    ABU DHABI / WAM Waha Capital has reported a 32% year-on-year increase in first quarter net profit, driven by robust returns from its public markets business and the strong performance of its Waha Mena equity fund. The company recorded a net profit of AED147 million in the first three months of 2022, compared to AED111 million in the same ...

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• 12 May

  Germany’s Uniper confident it can keep Russian gas flowing

  

  Bloomberg German utility Uniper SE is confident its next payment for Russian natural gas will comply with Kremlin demands without violating sanctions, in the latest sign that European companies and their Russian supplier are finding ways to keep the gas flowing. Uniper, one of Europe’s biggest buyers of the fuel from Russia, will pay in euros when its next bill ...

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• 12 May

  Germans wage ‘war of open letters’ over Ukraine, Russia

  

  Debates among German intellectuals are usually so vapid, pretentious and painful to behold that I hesitate to wish the experience even on my worst enemies. But I’m making an exception for a phenomenon I’ll call the War of Open Letters. This ongoing philosophical conflict is about the brutal attack by Russian President Vladimir Putin on Ukraine, and the appropriate reaction ...

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• 12 May

  Does your country need digital cash?

  

  Nine out of 10 central banks are exploring electronic versions of physical cash, according to the Bank for International Settlements’ 2021 survey of monetary authorities released this month. Nearly everyone, it seems, is convinced that the future of money is digital. While that might be right, does every country need to be on the bandwagon just yet? Not really. Whether ...

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• 12 May

  Long Covid in real estate weighs on core inflation

    It’s time to mark cards for what has become the single most important data release for global markets: the US consumer price inflation data. This one is consequential, although perhaps not as important as it feels at present. The virtually universal expectation is that the headline annual CPI number will fall compared to the previous month, for the first ...

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• 12 May

  Democrats are flunking Covid pandemic 101

    Congress still hasn’t approved supplemental funding for Covid-19 vaccines, booster shots, treatments, tests and scientific work in a bill it’s been sitting on for months. Democrats have the tools to make it happen, but they aren’t using them. Republicans are filibustering against the bill in the Senate, holding the spending hostage in an attempt to get their way on ...

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